Accounting is interesting!

WANTED - team member for island's worst kept secret!

23 April 2018

Collenette Jones' trust team is one of the island's worst kept secrets for quality, proactive and good value Retirement Annuity Trust administration services.
We're looking for a full time qualified trust administrator to join our small but busy team who look after a portfolio of about 260 Retirement Annuity Trusts, a multi-member pension scheme and a handful of traditional discretionary trusts.

Looking for a home for your pension?

03 November 2016

Are you looking to set up a Guernsey Retirement Annuity Trust (“RATs”)? Or are you and friends/colleagues presently Trustee of your own RATs and want to get it looked after professionally? Or have you been informed by your current professional trustee that it no longer wants your business? Read on to find out more...

Extension of the 20% tax rate... large retailers

30 September 2016

Since 1 January 2016 the company ‘higher’ rate of tax (20%) has applied to “large” retailers, which means those earning profits in excess of £500,000 in a calendar year, and the Tax Office have recently issued guidance on how they intend to impose the charge in practice.
This article intends to give a brief summary of the tax rates that apply to Guernsey companies and the businesses and activities that are affected by this change.

Planning early for succession

30 March 2016

Other than the bigger UK and international businesses, there are few Guernsey businesses that have been around for more than one or two generations. Some businesses fail because their products or services are no longer needed or because they have suffered some calamity. But there are many which just fade away because their owners have failed to do any proper succession planning.

Investing in UK Property… it’s a taxing decision!

14 July 2015

Hidden in the detail of the UK Government’s recent budget announcement were proposals to extend the scope of another UK tax to non-UK owners of UK residential property – this time, Inheritance Tax (IHT).

A Changing World: Capital Gains Tax in Guernsey?

06 April 2015

Capital Gains Tax is now a consideration for Guernsey residents when investing in UK residential property. This article touches on some of the key points local residents might want to bear in mind, the rates of tax applied to capital gains made by individuals and companies, and simple steps that can be taken to protect historic gains from the hands of the UK tax-man.

To audit, or not to audit - that is the question...

15 May 2014

An audit used to be an annual process that all companies went through. Since 2008, most Guernsey companies have the option of becoming “audit exempt”. However, there are still many situations where a voluntary audit, or some other formal review of financial statements and systems, can be beneficial.